The Westerly (R.I.) Hospital and Lawrence & Memorial Hospital in New London, R.I., are researching a strategic alliance to align services, according to a Westerly Sun report.
Leaders from the hospitals said the agreement is a non-binding letter of intent to explore an affiliation. Westerly, a 125-bed community hospital, has sought an affiliation with another hospital for approximately four years, according to the report.
In July, the financially strained Westerly reported a $5.2 million operating loss through April, the seventh month of its fiscal year.
The 280-bed L&M has an operating budget of more than $330 million and has 400 physicians.
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